The Edition Residences Sells New Development In Miami For $14.85M With Seller's Rep Adam Redolfi - ALURE Capital
SOLD
$14,850,000
Florida
See Similar DealsCondo12,483 SF
Sold 10/17/2023
SOLD
The Edition Residences Sells New Development In Miami For $14.85M With Seller's Rep Adam Redolfi - ALURE Capital
2121 North Bayshore Drive
See Similar DealsCondo12,483 SF
Sold 10/17/2023
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,189
Total Square Footage:12,483 SF
Transaction Type:Sale
The Edition Residences has sold a new development property located at 2121 North Bayshore Drive in Miami. The property spans a total area of 12,483 square feet and was sold for a price of $14,850,000, resulting in a price per square foot of $1,190.
Summary of transaction details
- Property Type: New Development
- Transaction Amount: $14,850,000
- Address: 2121 North Bayshore Drive, Miami
- Market: Miami
- Seller: The Edition Residences
- Broker: Adam Redolfi - ALURE Capital
- Square Footage: 12,483
- Price per Square Foot: $1,190
The sale of this property was facilitated by Adam Redolfi of ALURE Capital, who represented the seller, The Edition Residences. Redolfi's expertise and experience in the market played a crucial role in the successful transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$792,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,758.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$70,396.58
Annual Debt Service$844,758.91
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